November 08,2018

New Member Announcement: Samba Financial Group


The MENA Financial Crime Compliance Group is pleased to announce, that in October 2018, Samba Financial Group of the Kingdom of Saudi Arabia, became the latest official member of the MENA FCCG.

Samba Financial Group becomes the 13th official Group member and they become the 9th MENA country included within the Group membership. They will primarily be represented by Mr Athal Al-Harbi, Group Head of Compliance.

MENA FCCG Chairman, Mr Wissam Fattouh said:

“The welcome inclusion of Samba Financial Group represents another important milestone in the development of the MENA FCCG. In having one of the regions premier financial institutions join the Group and in bringing the first member institution from the Kingdom of Saudi Arabia, the Group adds significant regional expertise to their efforts to make a collective effort in the fight against financial crime.”

Samba Financial Group also provided the following commentary:

“Samba Financial Group (“Samba”) recognizes the importance of strengthening joint efforts to combat financial crimes and related illicit activities such as money laundering and financing of terrorism. Hence, Samba has joined the MENA Financial Crime Compliance Group (MENA FCCG), as the first Saudi bank to become a member of this group. The accession comes in line with Samba’s vital role in activating proactive measures and increasing preparedness to address such crimes, through the concerted efforts of various relevant agencies and institutions to protect the reputation of financial institutions operating in the Middle East and North Africa, in addition to establishing confidence in the integrity and reputation of the region’s financial and banking sector.

Thanks to its accumulated expertise and pioneering experience, Samba will harness its full potential to consolidate the group’s experience, provide the necessary support to enable it to reach its desired goals, to strive to enhance the financial and banking environment in the region and refine it of the challenges and risks involved.”